The War Of Meme Coins: Dogecoin Fights Back As Shiba Inu Surpasses Its Market Cap

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Meme coins Dogecoin & shiba inu

dogecoin shiba

The cryptocurrency market is becoming a lot more interesting in recent weeks, the most significant being the Meme coins as we see the likes of dogecoin and shiba breaking new grounds and making comebacks in the crypto bull-run season.

Doge shot up to the psychologically important $0.30 mark early Thursday morning.

What Happened: The cryptocurrency soared 14.56% over 24 hours to $0.30 at press time. For the week, DOGE has gained 18.92%.

The meme coin was the ninth-largest cryptocurrency by market cap at press time, as per CoinMarketCap. It was placed ahead of SHIB (CRYPTO: SHIB), which was the eleventh-largest coin by market cap at press time.

This reverses the sudden flippening of meme coins that took place on Wednesday.

DOGE has gained 4503.42% since the year began and 26.10% in the last 30 days. It touched an all-time high of $0.74 in May.

Why It Matters: DOGE soared even as major cryptocurrencies were trading in the red. The global cryptocurrency market cap fell 0.26% to $2.61 trillion at press time.

DOGE did not receive high interest on Twitter at press time, as per Cointrendz data. It was mentioned in 2,370 tweets.

The highest interest was seen in SHIB and BTC, which were mentioned in 38,590 and 21,769 tweets, respectively. Doge topped the list of trending tickets on Stocktwits.

On Wednesday night, a spurt was seen in Decentralized Finance or DeFi coins alongside SHIB but major cryptocurrencies such as Bitcoin and Ethereum declined below key levels.

In the early hours of Thursday, cryptocurrency analyst Kaleo noted SHIB-DOGE rotation on Twitter.

Not going to say I gave you absolute perfect timing for the Shib / Doge rotation, but………

— K A L E O (@CryptoKaleo) October 28, 2021

Late night alpha:

1) Dogecoin 2) Wonky Stonks

You’re welcome.

— K A L E O (@CryptoKaleo) October 28, 2021

Glauber Contessoto, a “dogecoin-millionaire,” laid out several catalysts yet to come in favor of the meme cryptocurrency.

Dogecoin catalysts still to come

  1. Robinhood wallets 2. Verifone partnership w/ Bitpay 3. AMC begins Doge payments 4. Doge-Ethereum Bridge 5. Doge update 1.14.5 6. Tesla Accepts Dogecoin 7. DOGE-1 mission to moon paid for completely in Dogecoin 8. Dogecoin VISA Credit Card

— SlumDOGE Millionaire (@ProTheDoge) October 28, 2021

We should be seeing a lot more growth in the meme token in the next few months as there are a lot of factors which would be influencing the meme coin one of which is the dogecoin to the moon project ‘Doge 1’ which is very likely to be launched in the first quarter of 2022.

The meme coin has a lot of growth potential, and its still a very good time to invest in the token as its still very likely to make almost another 500% – 1000% increase between now and the end of the second quarter of 2022

YouTuber Matt Wallace noted the spike in the prices of DOGE.

DOGECOIN JUST STARTED GOING CRAZY!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

— Matt Wallace (@MattWallace888) October 28, 2021

You can also read

There’s no stopping SHIB price as Robinhood Petition Gains Over 326,000 Signatures

About 900 Million Shiba Inu Burned Today

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